Nova Scotia has officially moved into the third phase of our five-phase reopening plan.  After more than a year of lockdowns and restrictions, many small businesses are questioning how soon the Province’s economy will rebound from the pandemic.  At CUA, we know that there is a strong connection between financial well-being and the overall well-being of individuals, businesses, communities and our economy.  If you are financially well, you can maintain spending activity that supports GDP growth to help drive our economy.  It is more crucial than ever for consumers to support local businesses.  In a recent survey, it indicated 1 in 6 small businesses is at risk of closing.  We’ve now reached a pivotal point where businesses must decide whether they can stay open and fully recover from the last 16 months.

Our small businesses are what make Nova Scotia unique; they drive our culture and make us the great province we are today.  When it comes to where we spend, shifting even a portion to a locally owned business helps build Nova Scotia will enable more of our money staying in our community and creating a multiplier effect through our economy.  As consumers, we need to remind ourselves that we all have a role to play in helping small businesses stay resilient and remain open. 

Our team at CUA is dedicated to helping you have the information, knowledge and tools to achieve and maintain financial well-being.  We work directly with entrepreneurs and Nova Scotia businesses to provide them the guidance and support to succeed.  As a community-based organization, we know firsthand the importance of having the support of your community and know we can make a bigger impact when we work together with others.  That’s why we invest in the individuals and organizations that are helping build our communities. 

If you’ve been following my messages, you know this is not a new one and in fact, we have been strongly advocating that all Nova Scotians play a role in ensuring businesses survive and thrive in the coming year.  Let’s all have small businesses top of mind as the economic recovery continues.